Wells Fargo & Company Increases Liberty Energy (NYSE:LBRT) Price Target to $26.00

Liberty Energy (NYSE:LBRT) had its target price increased by equities researchers at Wells Fargo & Company from $24.00 to $26.00 in a research report issued on Friday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential upside of 16.85% from the stock’s previous close.

Several other equities analysts have also recently issued reports on LBRT. TD Cowen boosted their price objective on Liberty Energy from $19.00 to $21.00 and gave the company a “hold” rating in a report on Friday. Piper Sandler upped their price target on Liberty Energy from $27.00 to $28.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. Bank of America upped their price target on Liberty Energy from $20.00 to $23.00 and gave the stock a “neutral” rating in a report on Monday. Finally, Morgan Stanley upped their price target on Liberty Energy from $23.00 to $24.00 and gave the stock an “equal weight” rating in a report on Monday, January 29th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $23.60.

Liberty Energy Stock Performance

LBRT traded up $0.15 on Friday, reaching $22.25. 321,306 shares of the stock were exchanged, compared to its average volume of 2,932,743. The company’s 50-day moving average price is $21.15 and its 200 day moving average price is $19.65. Liberty Energy has a fifty-two week low of $11.62 and a fifty-two week high of $23.31. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.49 and a quick ratio of 1.17. The firm has a market capitalization of $3.71 billion, a PE ratio of 8.11, a PEG ratio of 1.04 and a beta of 1.85.

Liberty Energy (NYSE:LBRT) last issued its quarterly earnings results on Thursday, April 18th. The company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.06). The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.08 billion. Liberty Energy had a return on equity of 26.90% and a net margin of 10.43%. The business’s revenue was down 12.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.90 EPS. As a group, sell-side analysts forecast that Liberty Energy will post 2.64 EPS for the current fiscal year.

Insider Activity

In other news, CAO Ryan T. Gosney sold 6,000 shares of Liberty Energy stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $20.50, for a total value of $123,000.00. Following the completion of the sale, the chief accounting officer now directly owns 140,706 shares of the company’s stock, valued at $2,884,473. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider R Sean Elliott sold 20,000 shares of Liberty Energy stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $20.50, for a total value of $410,000.00. Following the completion of the sale, the insider now directly owns 218,530 shares of the company’s stock, valued at $4,479,865. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Ryan T. Gosney sold 6,000 shares of Liberty Energy stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $20.50, for a total value of $123,000.00. Following the completion of the sale, the chief accounting officer now directly owns 140,706 shares of the company’s stock, valued at $2,884,473. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 98,459 shares of company stock valued at $2,077,491. 3.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. International Assets Investment Management LLC boosted its holdings in Liberty Energy by 1,777.4% in the fourth quarter. International Assets Investment Management LLC now owns 233,280 shares of the company’s stock valued at $4,232,000 after purchasing an additional 220,854 shares during the period. American Century Companies Inc. increased its position in shares of Liberty Energy by 12.4% during the third quarter. American Century Companies Inc. now owns 2,241,076 shares of the company’s stock worth $41,505,000 after purchasing an additional 247,074 shares in the last quarter. Public Sector Pension Investment Board acquired a new stake in shares of Liberty Energy during the third quarter worth about $3,549,000. Envestnet Asset Management Inc. increased its position in shares of Liberty Energy by 37.8% during the third quarter. Envestnet Asset Management Inc. now owns 237,090 shares of the company’s stock worth $4,391,000 after purchasing an additional 65,062 shares in the last quarter. Finally, Gendell Jeffrey L increased its position in Liberty Energy by 27.4% in the 3rd quarter. Gendell Jeffrey L now owns 891,452 shares of the company’s stock valued at $16,510,000 after acquiring an additional 191,452 shares during the period. 98.22% of the stock is currently owned by hedge funds and other institutional investors.

About Liberty Energy

Liberty Energy Inc provides hydraulic services and related technologies to onshore oil and natural gas exploration, and production companies in North America. The company offers hydraulic fracturing services, including complementary services, such as wireline services, proppant delivery solutions, field gas processing and treating, compressed natural gas (CNG) delivery, data analytics, related goods comprising sand mine operations, and technologies; and well site fueling and logistics.